The future of the global prefabricated housing market appears promising, with opportunities in the residential and commercial construction industries, according to the latest analysis by Lucintel.

The global prefabricated housing market is expected to reach an estimated value of $22.9 billion by 2028, with a CAGR of 4.8% from 2023 to 2028.

The major drivers for this market are the growth of construction activities and increasing awareness of eco-friendly, time-saving, and cost-efficient construction practices.

Emerging trends that have a direct impact on the industry dynamics include the use of bricks to enhance the thermal properties of prefabricated structures and the use of fly ash concrete to increase building strength.

Lucintel estimates that prefabricated houses will remain the largest segment and are also expected to experience the highest growth during the forecast period, due to the increasing demand for easily relocatable homes without the need for dismantling.

Within the global prefabricated housing market, residential housing will remain the largest end-use market and is also expected to experience the highest growth during the forecast period, driven by the demand for homes that require less time to construct and increased awareness of waste reduction.

North America will remain the largest region and is also expected to experience the highest growth as prefabrication promotes sustainability and waste reduction, aligning with eco-friendly construction standards.